Gulf Finance House (GFH), the leading Middle Eastern Islamic Investment Bank announced today that the Board of Directors has reluctantly accepted Mr. Ahmed Fahour’s resignation as a Board Member and Group CEO of the Bank. Mr Fahour has been appointed by the Australian Government as the Managing Director of Australia Post – a hugely important national asset for Australia. The Chairman, Dr Esam Janahi, said” We appreciate the significance of his new role with the Australian Government and we wish him all the best with this new challenge. Ahmed has agreed to continue to advise and support GFH, the Board and the Management.” Dr Janahi announced the departure of Ahmed Fahour and the appointment with immediate effect of Ted Pretty as Acting CEO of GFH. Mr Pretty was formerly an Executive Director with Macquarie Capital before joining GFH.Dr Janahi continued, “GFH has significant cash reserves and we are actively developing our plans for growth”.Dr Janahi added “I am very confident we have the required team in place to execute the strategy we have outlined to the market and Ted Pretty is already driving forward with the changes we have seen in the past few months. Ted will focus on driving new revenues to deliver strong returns to our shareholders and investors and ensuring transparency to the market. “.Newly appointed Acting CEO, Mr. Ted Pretty said, “I was brought on-board to lead our growth plans into private equity, investment banking and development infrastructure as these are the core activities of the new GFH strategy. I am pleased to be able to continue this process in an enhanced leadership role. I am very excited about the prospects for GFH going forward and look forward to advising the market in January about our new projects and initiatives.”